Unprepared for retirement? Read our top tips...

Only seven per cent of the UK population is close to being ready for the retirement they want, according to a major new report.

Pensions and savings provider Aegon say, on average people will fall £23,000 per year short of their expected retirement income.

As well as this, 42 per cent have never checked the performance of their existing retirement savings.

Aside from a lack of surplus cash, I think the blunt truth is most of us simply don’t know where to start when it comes to saving for retirement. This is coupled with the fact that there’s a huge gap between what we want in retirement, compared with how much were prepared to save.

– Sue Hayward - Personal Finance and Consumer Expert

Sue Hayward’s Top Ten Tips:

New to pension saving? Work out how much you can afford to save each month.

Do something! Opening a cash ISA is a good start.

There’s no one size fits all way to save for retirement. Think what’s best for you, whether that’s property, shares or a company scheme.